|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||26.59 - 27.08|
|52 Week Range||22.56 - 27.74|
|Beta (3Y Monthly)||0.37|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.74 (2.86%)|
|1y Target Est||25.44|
An abrupt end to coal-fired power generation in Germany would damage the steel industry's competitiveness by pushing up electricity prices, the head of the country's steel association warned on Monday. Hans Juergen Kerkhoff said he expects rising power prices from a hasty withdrawal from coal to lead to additional electricity costs of between 140 million euros and 220 million euros (193.7 million pounds) a year for the steel industry. Germany has tasked a commission with creating a roadmap for phasing out coal as an energy source, similar to a previous landmark decision to exit nuclear energy after the Fukushima disaster in Japan.
DUISBURG, Germany/FRANKFURT (Reuters) - Thyssenkrupp (TKAG.DE) will keep a stake of around 30 percent in the capital goods business it plans to spin off, a labour representative at the German conglomerate said, paving the way for an eventual takeover bid once it decides to sell out. Under the plan, Thyssenkrupp shareholders will own a majority of Thyssenkrupp Industrials, which will include the elevators, car parts and plant engineering units, while Thyssenkrupp will be renamed Thyssenkrupp Materials and keep a minority stake. This was likely to be "around 30 percent", Tekin Nasikkol, head of the works council at Thyssenkrupp Steel Europe and a member of Thyssenkrupp's supervisory board, told reporters.
ESSEN/DUESSELDORF, Germany (Reuters) - Thyssenkrupp (TKAG.DE) still has a long road ahead of it trying to raise margins and profits in its mediocre business divisions, investors and analysts said, adding a landmark move to split itself in two needed to be followed by changes to strategy. In one of the most radical shake-ups of a big German company in decades, Thyssenkrupp said on Thursday it would spin off its elevators, car parts and plant engineering divisions, splitting the submarines-to-steel conglomerate into two listed entities. The spun off entity, Thyssenkrupp Industrials, will be minority-owned by Thyssenkrupp Materials, the remaining 18 billion-euro ($20.8 billion) business which will also include metals distribution, a 50 percent stake in the company's future steel joint venture with Tata (TISC.NS), bearings and forging, and naval vessels.
Qatar Petroleum is looking at a range of possible investments in Germany, including downstream projects and cooperation deals with smaller companies, as part of its overall drive to find new markets for liquefied natural gas, the company's CEO said. "We are looking into investing further in the downstream with the objective of monetizing our gas … and finding a new market for our gas," al-Kaadi told a Qatari-German investment conference.
Qatar Petroleum is looking at a range of possible investments in Germany, including downstream projects and cooperation deals with smaller companies, as part of its overall drive to find new markets for liquefied natural gas, the company's CEO said. Chief Executive Saad Sherida al-Kaabi on Friday confirmed his company's discussions with big German firms Uniper and RWE about cooperating on a potential local LNG terminal. "We are looking into investing further in the downstream with the objective of monetizing our gas … and finding a new market for our gas," al-Kaadi told a Qatari-German investment conference.
The Gulf state of Qatar said on Friday it would invest 10 billion euros (8.9 billion pounds) to strengthen its ties with Germany over the next five years, including the possible creation of a liquefied natural gas (LNG) terminal. Qatar's Emir Tamim bin Hamad al-Thani announced the funding boost for its long-term trading partner and Europe's largest economy at a bilateral investment conference in Berlin. Germany is Europe's biggest energy consumer.
German utility RWE (RWEG.DE) on Thursday said it had secured access to substantial annual capacity of a planned German terminal to import liquefied natural gas (LNG). "LNG will play an important role in the North-West European gas market and therefore we are very pleased to take this step forward towards an LNG terminal in Germany," RWE executive Andree Stracke said in a statement. German LNG Terminal is planning a final investment decision on the terminal in Brunsbuettel, northern Germany - which would have an annual capacity of 5 billion cubic metres - at the end of next year.
and RWE (RWEG.DE) about cooperating on a potential local LNG terminal, its chief executive told a paper. "We have a serious interest in participating in a German LNG terminal and are talking to Uniper and RWE," Saad Al-Kaabi told business daily Handelsblatt in an interview ahead of the Qatar Germany Business and Investment Forum in Berlin on Sept. 7.
MOSCOW/FRANKFURT (Reuters) - The Nord Stream 2 pipeline to transport Russian gas to Germany is progressing on schedule, its operator said on Friday, with European investors still committed to the project despite criticism from the United States and the threat of sanctions. Berlin and Moscow have been at odds since Russia annexed Crimea four years ago, but they have a common interest in the Nord Stream 2 project. The pipeline will allow Russia to bypass Ukraine, where its gas giant Gazprom has faced past disruptions.
FRANKFURT/LONDON (Reuters) - The surging costs of carbon permits have caused some of Europe's biggest utilities to lock in purchases in advance, while nuclear and hydro firms are benefiting from the knock-on effect on power prices. Carbon permits traded under the EU's Emissions Trading System (ETS) have become the best performing commodity this year, almost trebling in price to over 21 euros (18.86 pounds) a tonne since January on the back of stronger energy prices and measures to reduce supply. The ETS, which charges power plants and factories for every tonne of carbon dioxide they emit, has suffered from excess supply since the financial crisis which dragged prices down to lows of 2-3 euros a tonne.
The chief executive of Germany's Uniper, Klaus Schaefer, will take a break from running the company while he is being treated for cancer, the utility said. "Klaus Schaefer has informed the Chairman of the Supervisory Board, Dr. Bernhard Reutersberg, that he is suffering from cancer and that the treatment will take several months," Uniper said in a statement on Wednesday.
, Klaus Schaefer, will take a break from running the company while he is being treated for cancer, the utility said. "Klaus Schaefer has informed the Chairman of the Supervisory Board, Dr. Bernhard Reutersberg, that he is suffering from cancer and that the treatment will take several months," Uniper said in a statement on Wednesday.
Germany is on track to meet its EU renewables target by 2020, but will likely miss both EU and its own more demanding emissions targets, says Moody's Investors Service in a report published today. Conventional power generators RWE AG (Baa3 stable) and Uniper SE will remain exposed to tightening decarbonisation policies as Germany pushes through more measures to hit its targets and safeguard the credibility of its national long-term climate policy. Moody's report, "Europe's electricity markets: In Germany, national policies will continue to challenge conventional generators," is available on www.moodys.com.
Deutschland wird zwar voraussichtlich die EU-Klimaziele einhalten, die bis 2020 einen Anteil an erneuerbaren Energien von 18 % vorschreiben, andererseits aber sowohl die EU- als auch die eigenen, strengeren ...
FRANKFURT/LONDON, July 26 (Reuters) - President Donald Trump's plan for "vast amounts" of U.S. liquefied natural gas (LNG) to be sold to the European Union after trade talks with its top representative faces a reality test. After a meeting at the White House with European Commission President Jean-Claude Juncker on Wednesday, Trump said the EU would also buy more U.S. soybeans and work with Washington to cut other trade barriers to zero.
as it seeks to improve ties with the German utility after a difficult acquisition process. Fortum last month closed a 3.8 billion euro ($4.4 billion)deal to buy about 47 percent in Uniper, which was opposed to the transaction from the start. Now is the time to reset our relationship with Uniper," CEO Pekka Lundmark said in Fortum's quarterly report.
Russian energy giant Gazprom (GAZP.MM) will still be able to finance the Nord Stream 2 gas pipeline project even if U.S. sanctions are imposed on Western European partners in the project, an executive told a German newspaper. It is important for Gazprom and Russia currently has a high liquidity in euros," Paul Corcoran, the Nord Stream 2 CFO, told Welt am Sonntag in an interview.
In a separate statement, Fortum said it had also received merger clearance from the Russian Federal Antimonopoly Service (FAS) to acquire up to 50 percent of Uniper, in line with a previous decision disclosed at the end of April. Fortum said the FAS decision would prohibit it from making unjustified price increases on the wholesale electricity market, adding that would not have a significant impact on its operations. The approvals remove the remaining hurdles for Fortum to close the 3.8 billion euro ($4.4 billion) transaction, which the Finnish group said would take place no later than June 27.
State-controlled Fortum's bid has run into opposition from Uniper, which said that the combination would make little sense given its heavy exposure to gas and coal-fired power plants while Fortum's focus is on clean technologies. Approval by the EU would mark a major step towards the deal's completion, which also still requires regulatory clearance from Russia, where Uniper operates several assets through its subsidiary Unipro (UPRO.MM), to go through. The European Commission is scheduled to rule on the 3.8 billion euro (3.4 billion pounds) deal, first agreed by Fortum and Germany's E.ON in September, by June 15.
on Friday denied a media report that had said the energy group was delaying writedowns on its troubled Datteln 4 power plant to extract a higher takeover price from Finland's Fortum (FORTUM.HE). German weekly magazine Der Spiegel had said that insiders suspected Uniper was pushing back at least 100 million euros (87.9 million pounds) worth of impairments on the assets. Fortum, which is controlled by the Finnish government, last year agreed to buy a 46.65 percent stake in Uniper from the company's former parent E.ON (EONGn.DE) for 3.8 billion euros.
tried to block the sale of a 47 percent stake to Finland's Fortum (FORTUM.HE) was postponed on Wednesday in line with a proposal by Uniper's biggest shareholder E.ON (EONGn.DE). Cornwall (Luxembourg) S.a.r.l., a fund backed by U.S. activist investor Elliott which filed the motion to appoint a special auditor, agreed to the delay, one of its representatives told Uniper's annual general meeting, where shareholders had been due to vote on the motion. Actively working to obstruct E.ON's $4.5 billion sale of the stake to Fortum would be a breach of management's duties which is not permitted under German takeover regulations.
Germany's government on Wednesday appointed a commission to decide this year on the timetable for a withdrawal from coal as an energy source, ending a months-long tug-of-war over the line-up of the decision-making body. With brown coal mines being the only truly domestic resource in a country reliant on energy imports, Germany faces a lot of internal wrangling over when to abandon coal-burning to meet ambitious climate goals by 2030, as it also wants to be free of nuclear by 2022. The cabinet appointed a 24-strong group which includes Matthias Platzeck and Stanislaw Tillich, former prime ministers of brown coal-mining states Brandenburg and Saxony, which are industrially weak regions where losses of thousands of jobs, even if spread out over years, will hurt.
FRANKFURT (Reuters) - E.ON (EONGn.DE) on Wednesday said it would seek to delay two key votes at the annual general meeting of Uniper , evading a decision on whether to support a motion brought by activist ...
ESSEN, Germany (Reuters) - Uniper boss Klaus Schaefer will try to keep the energy group independent, he told shareholders on Wednesday, weeks before rival Fortum (FORTUM.HE) is expected to secure regulatory ...